Ethics in Business
Ethics in business is essential. Take CVS Caremarket for example. CVS, the largest drugstore chain in the US, vows to quit selling tobacco products. This important decision would probably shave estimated $2 billion in sales but CVS still decides to do so.
Why CVS makes this decision? It is certain that CVS is not a charity and one of the main job of CVS is to make profit. I think the reason why CVS dose this is that the company focuses more on the long-term profits. CVS slowly transfers its sign from a large retail business to a health care provider by doing this. With the sign of a health care provider, the CVS shop seems a more reliable place to shop and the customers will be more willing to buy from CVS shop rather than other shops which sell the same products. In this case CVS will make more profits in the future.
Ethics in business is important. On the one hand it plays an important role in shaping the company’s sign which will have long-term impact on the company. On the other hand, decisions made by the company with business ethics will have positive impacts on society.
